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Debt Assignment Agreement
"I need a Debt Assignment Agreement governed by Irish law for transferring a €5 million commercial loan from AIB Bank to our private equity firm, with completion scheduled for March 15, 2025; the debt is secured against commercial property in Dublin."
1. Parties: Identifies the Assignor (current debt holder), Assignee (party acquiring the debt), and any other relevant parties
2. Background: Explains the context of the debt assignment, including the original debt arrangement and the parties' intention to assign
3. Definitions and Interpretation: Defines key terms used throughout the agreement and sets out interpretation rules
4. Assignment: Core provision detailing the assignment of the debt, including the effective date and scope of transfer
5. Consideration: Specifies the payment or other consideration for the assignment
6. Completion: Details the completion mechanics, including timing and delivery of documents
7. Assignor's Warranties: Warranties regarding the debt, title, and authority to assign
8. Assignee's Warranties: Warranties regarding authority to accept assignment and regulatory compliance
9. Data Protection: Provisions ensuring compliance with GDPR and Data Protection Act 2018
10. Further Assurance: Obligations to execute further documents or take additional steps if needed
11. Notices: Specifies how formal notices under the agreement should be given
12. Governing Law and Jurisdiction: Confirms Irish law as governing law and Irish courts' jurisdiction
1. Security Assignment: Required when the debt is secured against assets, detailing the transfer of security rights
2. Regulatory Compliance: Additional provisions needed if either party is regulated by the Central Bank of Ireland
3. Consumer Protection: Required when the underlying debt involves consumer borrowers
4. Multiple Debts: Additional provisions for managing multiple debt assignments under the same agreement
5. Contingent Consideration: Required when the consideration includes performance-based or conditional elements
6. Indemnities: Optional enhanced protection for the Assignee regarding the assigned debt
7. Power of Attorney: Optional provision granting the Assignee power to act in the Assignor's name
8. Confidentiality: Detailed confidentiality provisions if not covered adequately in main confidentiality clause
1. Schedule 1 - The Debt: Detailed description of the debt being assigned, including amount, interest rate, and payment terms
2. Schedule 2 - Security Details: Details of any security associated with the debt
3. Schedule 3 - Required Notices: Forms of notices required to perfect the assignment or notify relevant parties
4. Schedule 4 - Completion Requirements: List of documents and actions required at completion
5. Schedule 5 - Warranties: Detailed warranties about the debt and related matters
6. Appendix A - Original Debt Documentation: Copies or details of the original debt agreement and related documents
7. Appendix B - Notice Forms: Template notices to debtors and other relevant parties
Authors
Banking
Financial Services
Debt Collection
Investment Management
Real Estate
Private Equity
Asset Management
Corporate Finance
Insurance
Credit Services
Debt Trading
Commercial Lending
Legal
Finance
Credit Risk
Compliance
Treasury
Debt Recovery
Portfolio Management
Investment
Commercial
Risk Management
Transaction Management
Corporate Finance
Legal Counsel
Finance Director
Credit Manager
Debt Collection Manager
Portfolio Manager
Risk Manager
Compliance Officer
Treasury Manager
Investment Director
Asset Manager
Commercial Director
Chief Financial Officer
Legal Director
Debt Recovery Specialist
Transaction Manager
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